FX:XAUUSD   Gold Spot / U.S. Dollar
Morning traders,

Quick look at the setup on Gold which trades under ticker XAUUSD , the pair are trading at the top end of its upward sloping channel with a range of 1430 at the top and 1400 to towards the bottom. The pair yesterday spiked to the top of the channel on Ray Dalios latest macro outlook suggesting the market should be buying gold long term.

Since then overnight the pair are off the highs and trending lower pointing to a move back within the channel towards 1415 and below. This view of a pull back is compounded by the rsi channel and stochastics crossing over and turning lower as per our trading view chart work.

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Good luck trading

from the Team at forexTrdr
Trade active: take profit 1 hit
Trade closed: target reached: Trade closed out after hitting tp1 and moving higher
Good luck with this trade I personally think it will only go down once we see what happens in the 1416-1415 area. It’s a good support at the moment.
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